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  1. Effects of corporate transparency on tax avoidance
    evidence from Country-by-Country Reporting
    Autor*in: Tuinsma, Tijmen; De Witte, Kristof; Janský, Petr; Palanský, Miroslav; Titl, Vitezslav
    Erschienen: [2023]
    Verlag:  Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Prague

    Private Country-by-Country Reporting (CbCR) is a measure against tax avoidance by large multinationals, implemented throughout the EU in 2016. Multinational companies with an annual revenue over € 750 million have been required to report their global... mehr

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    Private Country-by-Country Reporting (CbCR) is a measure against tax avoidance by large multinationals, implemented throughout the EU in 2016. Multinational companies with an annual revenue over € 750 million have been required to report their global activities on a country-by-country basis to tax authorities. Using this cutoff in a sharp regression discontinuity design, we find causal evidence for an increase in effective tax rates for affected companies, indicating an increase in tax compliance. We estimate the increase in effective tax rates at 5 to 6 percentage points locally. However, significant cross-sectional variation is present: the most aggressive multinationals with tax haven affiliates are at most moderately affected, while almost the full effect is concentrated in medium-aggressive firms. From a policy perspective, the results suggest that while CbCR was effective in combating some forms of tax avoidance, profit shifting opportunities in tax havens mostly negate this effect.

     
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
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    Weitere Identifier:
    hdl: 10419/286333
    Schriftenreihe: IES working paper ; 2023, 4
    Schlagworte: corporate tax avoidance; tax havens; financial transparency
    Umfang: 1 Online-Ressource (circa 31 Seiten), Illustrationen
  2. Overview of the characteristics of tax havens
    Autor*in: Dharmapala, Dhammika
    Erschienen: May 2023
    Verlag:  CESifo, Munich, Germany

    Tax havens have become a subject of great interest among policymakers, scholars and the general public, and are central to many important current policy debates. This chapter provides an overview of the scholarly literature on the characteristics and... mehr

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    Tax havens have become a subject of great interest among policymakers, scholars and the general public, and are central to many important current policy debates. This chapter provides an overview of the scholarly literature on the characteristics and origins of tax havens. The earlier literature, used cross-country analysis and found evidence that tax havens tend to have stronger governance institutions than comparable nonhaven countries. The more recent literature analyses the historical origins of tax havens and undertakes longitudinal analysis of their adoption of haven-like laws. This chapter also presents a descriptive analysis of the relationship between tax haven status and quantitative measures of countries' historical characteristics. This descriptive analysis suggests that tax haven jurisdictions are not appreciably different from nonhavens in their historical experience of foreign rule and in other historical characteristics. This suggests some caution in attributing tax havens' status to their colonial history or to other historical variables.

     
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    hdl: 10419/279160
    Schriftenreihe: CESifo working papers ; 10411 (2023)
    Schlagworte: tax havens; international taxation; colonial history; governance; economic development; comparative economics
    Umfang: 1 Online-Ressource (circa 23 Seiten), Illustrationen
  3. Sanction-busting through tax havens
    Autor*in: Kavaklı, Kerim Can; Marcolongo, Giovanna; Zambiasi, Diego
    Erschienen: April 2023
    Verlag:  United Nations University World Institute for Development Economics Research, Helsinki, Finland

    Financial sanctions, which aim to economically hurt a target by restricting its access to financial assets and markets, require the ability to identify who owns an asset. Although experts have long claimed that offshore financial centres that offer... mehr

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    Financial sanctions, which aim to economically hurt a target by restricting its access to financial assets and markets, require the ability to identify who owns an asset. Although experts have long claimed that offshore financial centres that offer secrecy ('tax havens') undermine sanctions by hiding ownership information, so far data limitations have prevented a rigorous test of this claim. We overcome this constraint using data from the Bank of International Settlements and the Offshore Leaks Database and conduct the first systematic analysis of the role that tax havens play in financial sanction evasion. Our main finding is that sanction targets reduce their funds in sanctioning countries while increasing their funds in tax havens. This displacement effect is stronger when the sanction coalition includes the United States or comprises more FATF or OECD members. Lastly, whether a tax haven is in the sanctioning coalition does not seem to make a difference. These findings confirm that target countries evade sanctions by moving large portions of their funds from sanctioning countries to tax havens. More broadly, our paper highlights a novel and geostrategically important role of tax havens in global finance.

     
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    Sprache: Englisch
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    ISBN: 9789292673635
    Weitere Identifier:
    hdl: 10419/283751
    Schriftenreihe: WIDER working paper ; 2023, 55
    Schlagworte: sanctions; financial markets; tax havens; Offshore Leaks Database; offshore financial centres
    Umfang: 1 Online-Ressource (circa 27 Seiten), Illustrationen
  4. Public procurement and tax havens
    Autor*in: Janský, Petr; Palanskỳ, Miroslav; Skuhrovec, Jiří
    Erschienen: [2023]
    Verlag:  Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Prague

    To understand public procurement suppliers linked to tax havens, we analyse datasets of tender-level public procurement and firm-level suppliers a provide a series of stylized facts. We estimate that around 5% of tenders by value (145 billion EUR... mehr

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    To understand public procurement suppliers linked to tax havens, we analyse datasets of tender-level public procurement and firm-level suppliers a provide a series of stylized facts. We estimate that around 5% of tenders by value (145 billion EUR yearly) are supplied by firms with ownership links to tax havens that are black-or grey-listed by the EU. For example, firms linked to the British Virgin Islands and Bermuda supply tenders worth over 900 per cent of their GDP. To address the question of which tenders are more likely to be supplied by firms linked to tax havens, we draw on a theoretical model and a tender-level empirical analysis. We find that tenders co-financed from EU funds and those attracting a larger number of bidders are less likely to be supplied by firms linked to tax havens. Any policy intervention might therefore rely on both an increased government oversight associated with EU funds or an increased firm competition.

     
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    hdl: 10419/286341
    Schriftenreihe: IES working paper ; 2023, 12
    Schlagworte: public procurement; government expenditures; offshore finance; secrecyjurisdictions; tax havens
    Umfang: 1 Online-Ressource (circa 32 Seiten), Illustrationen
  5. Disentangling business- and tax-motivated bilateral royalty flows
    Autor*in: Lejour, Arjan; Riet, Maarten van't
    Erschienen: 12 October 2023
    Verlag:  CentER, Tilburg University, [Tilburg]

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    Schriftenreihe: Discussion paper / CentER ; no. 2023, 027
    Schlagworte: bilateral royalty flows; international tax avoidance; treaty shopping; withholding tax; tax havens
    Umfang: 1 Online-Ressource (circa 46 Seiten), Illustrationen
  6. Disentangling business- and tax-motivated bilateral royalty flows
    Autor*in: Lejour, Arjan; Riet, Maarten van't
    Erschienen: October 2023
    Verlag:  CPB Netherlands Bureau for Economic Policy Analysis, [Den Haag]

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    Schriftenreihe: CPB discussion paper
    Schlagworte: bilateral royalty flows; international tax avoidance; treaty shopping; withholding tax; tax havens
    Umfang: 1 Online-Ressource (circa 45 Seiten), Illustrationen
  7. The gravity of Offshore Financial Centers
    estimating real FDIs using a binary choice model
    Autor*in: Albori, Marco; Anzuini, Alessio; Ferriani, Fabrizio; Rossi, Luca
    Erschienen: [2023]
    Verlag:  Banca d'Italia, [Rom]

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    Schriftenreihe: Questioni di economia e finanza / Banca d'Italia ; number 805 (October 2023)
    Schlagworte: Foreign Direct Investments; FDI network; tax havens; gravity models
    Umfang: 1 Online-Ressource (circa 26 Seiten), Illustrationen
  8. Disentangling business- and tax-motivated bilateral royalty flows
    Autor*in: Lejour, Arjan; Riet, Maarten van't
    Erschienen: October 2023
    Verlag:  CESifo, Munich, Germany

    Shifting intellectual property (IP) rights across jurisdictions is a well-known strategy of multinationals to reduce corporate income taxation. We investigate the extent to which the flows of remunerations for the use of IP rights are affected by... mehr

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    Shifting intellectual property (IP) rights across jurisdictions is a well-known strategy of multinationals to reduce corporate income taxation. We investigate the extent to which the flows of remunerations for the use of IP rights are affected by differences in corporate income and withholding taxation. Using OECD data between 2014 and 2019, we determine the influence of bilateral tax rates on the IP-location. These rates result from a network analysis that distinguishes between the potential gains from direct shifting of IP rights and treaty shopping. The latter are gains for multinationals from exploiting lower withholding taxes by routing royalty flows through conduit countries. We use these bilateral tax gains to isolate the flows that could be only business-motivated. Next we apply a gravity framework with PPML estimators. We estimate that at least 18% of the royalty flows is motivated by tax planning in this period, which reduces tax revenues by 6.5 to 16 billion US dollar in 2018. We argue that both estimates are lower bounds due to missing observations. More reporting by OECD countries of flows to and from tax havens would improve the precision of the estimates. To the best of our knowledge these are the first estimates of worldwide tax avoidance with royalties.

     
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    hdl: 10419/282396
    Schriftenreihe: CESifo working papers ; 10708 (2023)
    Schlagworte: bilateral royalty flows; international tax avoidance; treaty shopping; withholding tax; tax havens
    Umfang: 1 Online-Ressource (circa 46 Seiten), Illustrationen